Australia introduces bill imposing big fines for supermarket misconduct
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 27 2024
0mins
Source: Reuters
New Legislation for Supermarkets: The Australian government has introduced a bill that imposes significant fines on major supermarket chains, such as Woolworths and Coles, for failing to comply with a new mandatory code of conduct aimed at protecting suppliers from mistreatment.
Industry Response and Concerns: While some supermarket chains support the code, there are concerns from the Australian Retailers Association regarding the severity of penalties and retribution provisions that exceed earlier recommendations from a government-commissioned report.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
